Equity Residential, AvalonBay to buy Archstone

SAN FRANCISCO (MarketWatch) -- Equity Residential
EQR, +0.70%
and AvalonBay Communities Inc.
AVB, +0.65%
said late Monday they agreed to acquire Archstone Enterprise LP, a portfolio of apartment properties, for $16 billion from Lehman Brothers Holdings Inc. Under the deal, Equity Residential gets 60% of Archstone and AvalonBay gets 40%. The firms expect the deal to close in the first quarter of 2013. About $9.5 billion of the purchase price is Archstone debt that will be assumed by both Equity Residential and AvalonBay.

Intraday Data provided by SIX Financial Information and subject to terms of use.
Historical and current end-of-day data provided by SIX Financial Information. Intraday data
delayed per exchange requirements. S&P/Dow Jones Indices (SM) from Dow Jones & Company, Inc.
All quotes are in local exchange time. Real time last sale data provided by NASDAQ. More
information on NASDAQ traded symbols and their current financial status. Intraday
data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. S&P/Dow Jones Indices (SM)
from Dow Jones & Company, Inc. SEHK intraday data is provided by SIX Financial Information and is
at least 60-minutes delayed. All quotes are in local exchange time.